ExaGrid Achieves 18th Consecutive Quarter of Free Cash Flow, EBITDA, and P&L Positive Operations

ExaGrid Systems, Inc., an advanced tiered backup storage player with retention time-lock that includes a non-network-facing tier (creating a tiered air gap), delayed deletes and immutability for ransomware recovery, announced that it continues to grow and drive Free Cash Flow (FCF) and EBITDA.

The company is having another record bookings and revenue year and was FCF positive, P&L positive, and EBITDA positive for its 18th consecutive quarter. ExaGrid added over 140 new customers in the quarter and the average deal size is increasing. ExaGrid has continued to have over 75% of its new logo customer bookings come from six- and seven-figure purchase orders and in Q2, 80% of the new customers were from six- and seven-figure deals.

ExaGrid now has more than 4,700 active upper mid-market to large enterprise customers that use ExaGrid tiered backup storage to store and protect their data. ExaGrid’s customer retention rate remains very high, creating a strong existing customer repeat business.

The company supports more than 25 backup applications and utilities including: Veeam, Commvault, NetBackup, HYCU, Oracle RMAN direct, SQL Dumps direct, and ExaGrid recently announced support of Rubrik, and that it will add support for Cohesity DataProtect in the first half of 2026.

ExaGrid is a financially strong company generating positive cash each quarter and with zero debt of any kind.

Highlights of Q2 2025:

• Added over 140 new customers
• 18th consecutive quarter of Cash, EBITDA, and P&L positive operations
• 50% of ExaGrid’s business comes from existing customer re-orders
• Over 50% of the business came from outside the US
• Adding over 14 more sales regions worldwide
• Won six industry awards:
  • April: Data Breakthrough Awards – Data Backup Solution of the Year
  • May: Network Computing Awards – Air-gapped Ransomware Recovery Product of the Year
  • May: Network Computing Awards – Company of the Year
  • May: Network Computing Awards – Storage Product of the Year
  • June: Storage Awards – Channel Partner Programme
  • June: Storage Awards – Storage Company of the Year

“We are pleased that we have achieved 18 consecutive quarters of free cash flow and EBITDA. Revenue and EBITDA continue to grow Y/Y. We are the largest independent backup storage vendor, and we continue to add support and integration with more backup applications which offers investment protection to our existing customers and provides even more potential for top line growth,” said Bill Andrews, president and CEO, ExaGrid. “We’ve hit well over 4,700 active customer installations worldwide. ExaGrid continues to have an over 70% competitive win rate (74.1% in Q2) replacing primary storage behind the backup application, as well as inline de-dupe appliances such as Dell Data Domain and HPE StoreOnce.”